Presented here as reported
As reported by The Star/Bernama:
An ex-banker who handled Datuk Seri Najib Razak's accounts at AmBank told the High Court here Monday (July 29) that RM1.13bil was transferred into the former premier's accounts between 2011 and 2013.
The above which has been revealed in court in Malaysia is compared with this excerpt from a decision of the Federal Court Australia in Australian Competition and Consumer Commission (ACCC) v Australia and New Zealand Banking Group Limited  FCA 1516 (14 December 2016)
On ten occasions during 2011, traders employed by ANZ, which was a member of the relevant panel of submitting banks, engaged in discussions with traders employed by other banks, including other submitting banks, about the submissions that would be made concerning the Malaysian ringgit benchmark rate.
On eight occasions during 2011, a trader employed by Macquarie engaged in the same sorts of discussions, though Macquarie was not itself a submitting bank. The traders employed by ANZ and Macquarie attempted to get the traders employed by the other banks to make either high submissions, or low submissions, as the case may be, and thereby manipulate the setting of the Malaysian ringgit benchmark rate. In so doing, they attempted to make arrangements which indirectly provided for the fixing of the price for Malaysian ringgit forward contracts.
That is because the prices of those contracts were essentially determined by reference to the benchmark rates. ANZ, Macquarie and the banks whose traders participated in those discussions were in competition with each other in the market for Malaysian ringgit forward contracts. The arrangements that the ANZ and Macquarie traders attempted to make with the traders from the other banks therefore contained cartel provisions.
ANZ's management of AMBank included provision of forex expertise.
AMBank's business is predominantly in Malaysian Ringgit (MYR). It does appear as if ANZ took breached Australian law in order to handle an extraordinary influx of USD.
To be read with: